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Job opportunities for professionals in the UAE increased +6% in Q2 2013, compared with Q2 2012, according to the Employment Monitor from recruitment service provider Morgan McKinley. The number of professionals looking to change jobs increased +18% during the same period.
Trefor Murphy, managing director of Morgan McKinley UAE commented: “The UAE market for professional jobs in now starting to see the early signs of return to growth, [as] underlined by our data showing increased opportunities and rising jobs seeker numbers. In particular, there are two markets showing increased demand for professional hires: these are banking and construction. The UAE financial services market has recently seen a real upswing with strong growth projected across the board in the banking sector. Risk and compliance professionals are in demand, driven mainly by regulatory pressures. Those with a background in trading and also relationship managers; particularly those with local contacts and Arabic, are also sought after.”
Professionals active in the UAE job market totalled 32,760 in Q2 2013, an increase of +3% compared with 31,898 professionals in Q1 2013. Recruitment activity in the professional hiring market increased modestly quarter-on-quarter in Q2 2013, rising +2% to 6,310 jobs from 6,189 during Q1 2013. Comparing Q2 2013 to the same period last year shows an increase in the number of new professional roles of +6% from 5,861.
Mr Murphy commented: “The increase in professionals open to moving job roles is a result of generally improved confidence across the region, with GDP growth at +4% and projected to rise to +6% in 2014. It’s important to note that for professional jobs, the UAE remains an employers’ market, but for the first time in four or five years, hiring managers are looking externally to source the best talent and this positive outlook is certainly filtering down to job seekers.”
“We don’t expect to see any significant fall back in the number of available jobs over Q3, but growth is likely to be slow and irregular from one sector to another, as business confidence and renewed investment rise gradually,” he added.